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Uncertainty remains over revival of Jet Airways as certificate expires

A query sent to Ankit Jalan, a board member of the JKC, on whether the consortium has sought renewal of the AOC remained unanswered

Jet Airways

Jet Airways

Press Trust of India Mumbai

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Uncertainty continues over the revival of grounded Jet Airways as the validity of the airline's air operator's certificate expires on Friday.
There was no word from the Jalan Kalrock Consortium (JKC), which emerged as the winning bidder for the carrier under the insolvency resolution proceedings, on the status of the airline's flying permit.
The Air Operator's Certificate (AOC) of the airline, which has not flown since April 18, 2019, was revalidated on May 20 last year for a one-year period and the validity ended on Friday.
However, it could not be immediately ascertained whether the consortium has sought any relaxation from aviation regulator DGCA with respect to the AOC, which is the most crucial requirement for operating an airline.
A query sent to Ankit Jalan, a board member of the JKC, on whether the consortium has sought renewal of the AOC remained unanswered.
The ownership transfer of Jet Airways to the JKC is yet to happen amid continuing differences with the lenders of the airline.
Debt-ridden Jet Airways, which flew for 25 years, shuttered operations on April 18, 2019. The insolvency resolution process of the carrier began in June 2019 and the National Company Law Tribunal (NCLT) approved a resolution plan submitted by the JKC in June 2021.
Last week, the Consortium reportedly approached the NCLT asking it to grant more time to pay the creditors and implement the revival plan.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 19 2023 | 11:06 PM IST

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